2017 "Tax Reform": They'll Screw This Up Too, Right? - Page 12 - Politics and Economics

No. This is really their one shot.

Every seems to forget Obama's payroll tax cut of 2011 and 2012.

That tax cut was worth $2136 per year.

Earned my vote in 2012.

And that is the threshold from which I will compare this GOP tax plan to.

Nice.

.712 of a cent per dead Puerto Rican.

10-07-2017 , 12:12 AM

#277

6ix

Pooh-Bah

Join Date: Aug 2017 Posts: 4,783

Quote:

Originally Posted by raradevils

Deserving, why does the gov't deserve money that was already taxed? Deserving has nothing to do with it. I spent my entire life generating wealth. I should have the right to bequeath it to whomever or whatever I choose.

Walk me through it.

10-07-2017 , 12:13 AM

#278

6ix

Pooh-Bah

Join Date: Aug 2017 Posts: 4,783

Spoiler:

10-07-2017 , 12:20 AM

#279

6ix

Pooh-Bah

Join Date: Aug 2017 Posts: 4,783

Quote:

Originally Posted by Rococo

I guess it depends on what you mean by this statement. If you mean that relatively few people in USA#1 would accumulate $11 million without the benefit of a tax structure that favors the rich (not terribly progressive, favorable treatment of cap gains, etc.), then I guess I agree.

If you mean that very few people in USA#1 accumulate $11 million w/o directly exploiting the working poor like some robber baron, I don't agree.

I'm not sure what it says about our economic system, but there are a ton of white collar "service" professionals like doctors and lawyers who accumulate something like $11 million by age 60-65, and they didn't accumulate that amount of wealth by employing people in sweatshops or paying less than a living wage to tons of workers. For most of the lawyers, at least, it would be more accurate to say that they acquired their money by affixing themselves parasitically to large corporations or absurdly wealthy individuals. I guess you could say that those clients are only able to pay the lawyer's rates because they have profited off the backs of the working poor, but that's at least one step removed.

I knew you'd get there in the end.

10-07-2017 , 12:20 AM

#280

Huehuecoyotl

Carpal \'Tunnel

Join Date: Sep 2009 Posts: 29,257

Quote:

Originally Posted by 6ix

Walk me through it.

I'm going to guess the first 15 years or so were a net negative

10-07-2017 , 12:25 AM

#281

6ix

Pooh-Bah

Join Date: Aug 2017 Posts: 4,783

Quote:

Originally Posted by Tien

No one? When Sillicon Valley created an entire multi billion dollar tech industry with high paying jobs, tell me how it took advantage of working poor people again?

No society builds itself from just working poor people, it takes a lot of investment capital and taxes to fund those social programs. It goes both ways.

Quote:

Originally Posted by stinkubus

Computers, smartphones, etc. are largely manufactured in Chinese sweatshops. That's how the business is built on the backs of the poor.

I have no words. Let me close this thread.

10-07-2017 , 12:28 AM

#282

6ix

Pooh-Bah

Join Date: Aug 2017 Posts: 4,783

The peddler now speaks to the countess who's pretending to care for him
Saying, "Name me someone that's not a parasite and I'll go out and say a prayer for him"

10-07-2017 , 10:38 AM

#283

BigRedChief

centurion

Join Date: Oct 2016 Posts: 182

Putting aside the massive tax cuts for the rich, to get to 51 votes and use reconciliation they need to gut Medicaid and medicaid.

2 long term goals in one bill.

10-07-2017 , 04:42 PM

#284

DudeImBetter

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They could always just change their mind about massive military budgets! Lol

10-08-2017 , 05:04 PM

#285

vaya

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Quote:

Originally Posted by awval999

I mean, look at the results the last 15 years or so. The GOP only loses when they take the nation to the brink of economic catastrophe.

I don't know, I guess I just won't ever understand.

That's because GOP voters are huge racists and will only abandon them if they present an immediate existential threat to the country

10-08-2017 , 06:44 PM

#286

syndr0me

old hand

Join Date: Dec 2006 Posts: 1,669

I haven't read this whole thread, but any opinion that thinks this is anything but a massive tax giveaway to the wealthy is not well versed on the subject at all

The double deductions stuff is just a way of trying to muddy up what the real goal is here.

10-08-2017 , 07:42 PM

#287

TiltedDonkey

veteran

Join Date: Sep 2013 Posts: 2,975

Quote:

Originally Posted by vaya

That's because GOP voters are huge racists and will only abandon them if they present an immediate existential threat to the country

Apparently not even then.

Quote:

Originally Posted by syndr0me

Meh, obviously giveaway to the super rich is goal #1A but that doesn't mean you can't **** over blue states for fun at the same time.

10-10-2017 , 08:12 AM

#288

syndr0me

old hand

Join Date: Dec 2006 Posts: 1,669

Quote:

Originally Posted by Inso0

Tax law is ****ed. I decided to self-study for the CPA, and said, "**** this" right around the Trusts/Estates section of the first 700 page book I tried to read.

I have since decided that I'm comfortable with my current industry-specific knowledge of taxation and accounting, and will leave the CPA certifications to the turbo nerds.

International is the real nasty stuff, this plan is such a joke

10-10-2017 , 08:14 AM

#289

syndr0me

old hand

Join Date: Dec 2006 Posts: 1,669

Quote:

Originally Posted by TiltedDonkey

Apparently not even then.

Meh, obviously giveaway to the super rich is goal #1A but that doesn't mean you can't **** over blue states for fun at the same time.

Fair point, it's like a bonus for the gop, it's great that we elect people like this

10-11-2017 , 06:09 PM

#290

markksman

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https://mobile.twitter.com/SenBobCas...35712524292096

10-11-2017 , 07:35 PM

#291

dinopoker

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Wait, so you're saying Trump's team came up with something bad?

Huge if true!

10-11-2017 , 08:14 PM

#292

goofyballer

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Join Date: Jun 2005 Posts: 70,719

Trump et al: we need to cut rich people's taxes so they hire more people

Well, about that...

Reuters surveyed 17 Russell 2000 companies and none of them are planning to spend tax savings on hiring more employees

Quote:

Small companies pay the highest taxes and they would be the main beneficiaries of such a Trump windfall. Reuters contacted the 100 largest companies by market value in the benchmark Russell 2000 index of U.S. small and mid-cap stocks as well as another 50 in the Russell 2000 with no analyst coverage. None of the 17 companies that responded to Reuters queries mentioned boosting their headcount.

10-11-2017 , 08:48 PM

#293

eyebooger

Join Date: May 2010 Posts: 58,682

Wait, are you saying that tax cuts don't equal jobs? Amazing. Who would have thought?

10-12-2017 , 05:08 AM

#294

ChrisV

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Quote:

Originally Posted by Noodle Wazlib

Man who helped create GOP tax myth DESTROYS the new tax plan and the myth he helped create

https://www.washingtonpost.com/news/...-equal-growth/

Is that a Laffer curve reference in the article? You damn sure ****ing bet it is

If I could get the "it's just econ 101, stupid libruls" brigade to read just one article, it would be this. I know the response would be "fake news", but still.

10-12-2017 , 06:30 AM

#295

Victor

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I dont understand why the term tax cuts only applies when the rich are paying less taxes. same with all economic benefits really. they are all based on more money going to the rich.

seems that these "tax cuts" will actually raise taxes for large portions of the population. this considered a good thing bc the super rich will pay less money though. it makes no sense.

10-17-2017 , 04:30 PM

#296

uDevil

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Arthur Laffer lays it on thick in this NPR interview. The host pushes back a little, but not nearly enough. ~10 minute of audio:

http://www.wbur.org/hereandnow/2017/...lican-tax-plan

10-18-2017 , 11:52 AM

#297

Zimmer4141

Wet

Join Date: Oct 2005 Posts: 33,667

Bahahaha at these claims by the Council of Economic Advisers

http://thehill.com/policy/finance/35...ld-boost-wages

Quote:

CEA Chairman Kevin Hassett said on a call with reporters on Sunday that the main reason why cutting the corporate tax rate would boost wages is because doing so would make it less expensive for companies to invest in capital assets such as machines.

“More assets like machines let workers produce more, and when workers can produce more, businesses can afford to pay their workers more,” he said.

10-18-2017 , 11:58 AM

#298

Zimmer4141

Wet

Join Date: Oct 2005 Posts: 33,667

People in high ranking office, just completely oblivious to how things have worked in America for 5 decades

10-18-2017 , 12:35 PM

#299

DudeImBetter

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Quote:

Originally Posted by Zimmer4141

People in high ranking office, just completely oblivious to how things have worked in America for 5 decades

what happened in the early 70s?

10-18-2017 , 12:44 PM

#300

Zimmer4141

Wet

Join Date: Oct 2005 Posts: 33,667

There are lots of theories people have had, I think it's some combination of busting of unionized labor and manufacturing being more capital and less labor intensive, requiring less manpower for more productivity.

Whatever the main reason is, the line of thinking of "Automation leads to higher wages" is laughably false.

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